Today in Switzerland: A roundup of the latest news on Monday
Basel residents to benefit from tax breaks; one million tenants are paying too much rent; and other Swiss news in our Monday roundup.
Basel and Geneva tax votes: a ‘yes’ and a ‘no’
On Sunday, voters in both cantons cast their ballots on tax-related issues.
In Basel-City, an overwhelming majority (84 percent) approved the 88-mllion-franc tax cut for the entire population, even though some political groups urged the ‘no’ vote, putting forth a tax package that would exclude the wealthy members of the population.
In Geneva, the initiative of the left-wing groups to impose a 100-percent taxation rate (up from the current 60 to 70 percent) on shareholder dividends was swept away by nearly 60 percent of voters.
This article explains what was at stake in both cantons:
What are the tax issues Geneva and Basel will vote on this Sunday?
One million tenants in Switzerland pay too much rent
That’s the number of low to middle-class people who suffer from the so-called ‘rent burden’ in Switzerland, according to a report in the Sunday's SonntagsZeitung.
These tenants, who earn on average less that 5,000 a month, spend more that 30 percent of their income on rent; for some, as much as half of their wages go toward rent, says an aid organisation Caritas.
And the situation is likely to worsen: rents are expected to increase by 4 percent in the fall, while utility bills (including electricity) will likely rise by as much as 40 percent, according to Credit Suisse bank.
READ MORE: How can Switzerland solve its housing shortage and curb rents?
The bitter truth about Swiss chocolate
After the recent news that some of the Toblerones will soon be manufactured in Slovakia — and thus lose its ‘made in Switzerland' label — we now learn that Lindt is not as Swiss as we thought.
It turns out that one in three products of Lindt & Sprüngli, widely thought of as the quintessential ‘Swiss’ chocolate, is imported.
For instance, the iconic chocolate Easter rabbit wrapped in gold foil that carries the Lindt label is manufactured in the company’s factory in Aachen, Germany.
In fact, of around 14,500 Lindt employees, only about 1,000 are employed in this country. The vast majority produce ‘Swiss’ chocolate in Germany, France, Italy, and the US.
READ MORE: Cuckoo clocks and Toblerone: The 'Swiss' products that are not actually Swiss
Car insurance premiums vary from city to city
How much you pay for your vehicle insurance depends on where in Switzerland you live.
This is the finding of a survey of 10 Swiss cities carried out by Comparis consumer site and published on Friday.
It shows that premiums in Lugano are the highest in Switzerland: 960 francs a year for a comprehensive insurance.
Next are Zurich (858), followed by Lausanne (851) and Geneva (846).
The cheapest rate (771) is in Bern.
“Insurers calculate premiums based on the likelihood of accidents [in a given city] among other criteria,” according to Andrea Auer, Comparis’ mobility expert.
However, the motorists' residence is not the only criterium for setting premiums: they are also determined by drivers’ nationality:
Why foreigners in Switzerland pay higher car insurance premiums
If you have any questions about life in Switzerland, ideas for articles or news tips for The Local, please get in touch with us at [email protected]
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Basel and Geneva tax votes: a ‘yes’ and a ‘no’
On Sunday, voters in both cantons cast their ballots on tax-related issues.
In Basel-City, an overwhelming majority (84 percent) approved the 88-mllion-franc tax cut for the entire population, even though some political groups urged the ‘no’ vote, putting forth a tax package that would exclude the wealthy members of the population.
In Geneva, the initiative of the left-wing groups to impose a 100-percent taxation rate (up from the current 60 to 70 percent) on shareholder dividends was swept away by nearly 60 percent of voters.
This article explains what was at stake in both cantons:
What are the tax issues Geneva and Basel will vote on this Sunday?
One million tenants in Switzerland pay too much rent
That’s the number of low to middle-class people who suffer from the so-called ‘rent burden’ in Switzerland, according to a report in the Sunday's SonntagsZeitung.
These tenants, who earn on average less that 5,000 a month, spend more that 30 percent of their income on rent; for some, as much as half of their wages go toward rent, says an aid organisation Caritas.
And the situation is likely to worsen: rents are expected to increase by 4 percent in the fall, while utility bills (including electricity) will likely rise by as much as 40 percent, according to Credit Suisse bank.
READ MORE: How can Switzerland solve its housing shortage and curb rents?
The bitter truth about Swiss chocolate
After the recent news that some of the Toblerones will soon be manufactured in Slovakia — and thus lose its ‘made in Switzerland' label — we now learn that Lindt is not as Swiss as we thought.
It turns out that one in three products of Lindt & Sprüngli, widely thought of as the quintessential ‘Swiss’ chocolate, is imported.
For instance, the iconic chocolate Easter rabbit wrapped in gold foil that carries the Lindt label is manufactured in the company’s factory in Aachen, Germany.
In fact, of around 14,500 Lindt employees, only about 1,000 are employed in this country. The vast majority produce ‘Swiss’ chocolate in Germany, France, Italy, and the US.
READ MORE: Cuckoo clocks and Toblerone: The 'Swiss' products that are not actually Swiss
Car insurance premiums vary from city to city
How much you pay for your vehicle insurance depends on where in Switzerland you live.
This is the finding of a survey of 10 Swiss cities carried out by Comparis consumer site and published on Friday.
It shows that premiums in Lugano are the highest in Switzerland: 960 francs a year for a comprehensive insurance.
Next are Zurich (858), followed by Lausanne (851) and Geneva (846).
The cheapest rate (771) is in Bern.
“Insurers calculate premiums based on the likelihood of accidents [in a given city] among other criteria,” according to Andrea Auer, Comparis’ mobility expert.
However, the motorists' residence is not the only criterium for setting premiums: they are also determined by drivers’ nationality:
Why foreigners in Switzerland pay higher car insurance premiums
If you have any questions about life in Switzerland, ideas for articles or news tips for The Local, please get in touch with us at [email protected]
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